RE:Have patience...It very clearly is immoral. Potentially even illegal, but I have no expertise in Canadian securities law.
They have very clearly stated that they believe the company to be worth far North of 35 cents per share. According to the press release they have to post a filing within 10 days to explain how this is fair with regard to minority shareholders (at least that is my understanding based on the press release).
They also state in the video that they are cashed up (i.e. they don't need additional cash). These guys have 0 integrity, simple as that.
https://youtu.be/gajGadupLZQ?t=675